De novo BankMiami to open in mid-March

De novo BankMiami will open its doors next month.

Organizers said in a LinkedIn post that the bank will debut on March 17.

A proposed bank received conditional approval from the Federal Deposit Insurance Corp. in August that required the organizers to raise $31.3 million. Organizers submitted applications earlier that year.

BankMiami said in its application that it should have $390 million of assets, $354 million of deposits and $272 million of loans by the end of its third year. It should be profitable in the third quarter of its second year of operation.